BNP Paribas Financial Markets Cuts Position in Global Net Lease, Inc. (NYSE:GNL)

BNP Paribas Financial Markets trimmed its position in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 73.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,337 shares of the financial services provider's stock after selling 70,553 shares during the quarter. BNP Paribas Financial Markets' holdings in Global Net Lease were worth $185,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Algert Global LLC grew its stake in shares of Global Net Lease by 15.7% in the 4th quarter. Algert Global LLC now owns 321,242 shares of the financial services provider's stock valued at $2,345,000 after buying an additional 43,658 shares during the period. Northern Trust Corp increased its position in shares of Global Net Lease by 26.3% during the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock valued at $19,070,000 after acquiring an additional 544,719 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Global Net Lease by 82.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 48,475 shares of the financial services provider's stock valued at $354,000 after acquiring an additional 21,845 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Global Net Lease in the 4th quarter worth approximately $73,000. Finally, Syon Capital LLC boosted its position in shares of Global Net Lease by 155.7% during the 4th quarter. Syon Capital LLC now owns 43,484 shares of the financial services provider's stock worth $317,000 after purchasing an additional 26,481 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Price Performance

Shares of GNL stock traded down $0.01 during mid-day trading on Tuesday, hitting $7.69. 60,945 shares of the stock traded hands, compared to its average volume of 1,534,292. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The company's 50-day simple moving average is $7.61 and its 200-day simple moving average is $7.48. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -8.18 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. As a group, equities research analysts expect that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.88%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's dividend payout ratio is -51.35%.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the sale, the insider now directly owns 1,629,073 shares in the company, valued at $12,951,130.35. This represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

Separately, B. Riley initiated coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $9.00.

Global Net Lease Profile

Global Net Lease, Inc NYSE: GNL is a publicly traded real estate investment trust listed on the NYSE. The firm focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.